Progress Software Delivers $1.60 Q1 EPS on $247.8M Revenue, Raises Guidance
Progress Software posted fiscal Q1 profit of $22.8 million, delivering adjusted EPS of $1.60 versus the $1.57 average forecast on revenue of $247.8 million. It projects Q2 EPS of $1.47–$1.53 and revenue of $240–$246 million, and full-year EPS guidance of $5.91–$6.03 with revenue between $988 million and $1 billion.
1. Strong Q1 Performance
Progress Software reported a net profit of $22.8 million for the fiscal first quarter, with adjusted earnings per share of $1.60 beating the consensus by three cents. Total revenue reached $247.8 million, reflecting steady demand for its AI-powered digital experience and infrastructure software offerings.
2. Q2 Guidance Details
For the quarter ending in May, the company forecasts earnings per share between $1.47 and $1.53, alongside revenue projected at $240 million to $246 million. This guidance suggests modest sequential growth expectations amid continued investment in R&D and sales expansion.
3. Full-Year Outlook
Progress Software reiterated full-year earnings guidance of $5.91 to $6.03 per share with revenue estimated between $988 million and $1 billion. Management cited healthy renewal rates and cross-selling opportunities as key drivers supporting the outlook.